Allied Market Research, titled, “Stylus Pen For Education Market Size by Type, Platform Type, Screen Type, and Application: Opportunity Analysis and Industry Forecast, 2020-2027,” the stylus pen for education industry size was valued at $55.7 million in 2019, and is projected to reach at $99.3 million by 2027, growing at a CAGR of 8.8% from 2020 to 2027. North America is expected to be the leading contributor to the global market, followed by Europe and Asia-Pacific. The global stylus pen for education market is estimated to grow with the increase in adoption of BYOD policy by educational institutes. However, a lack of technological readiness may restrain the growth rate of the market in the underdeveloped countries.
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A stylus pen is a tool used to draw and write on the touchscreens of electronic devices. A stylus pen enables easy and quick data storage in digital form in touchscreen-based electronic devices. This is attributed to the fact that data or information written in analog form automatically gets converted into digital form, making it suitable for wider usage across various industry verticals. The governments across Asia-Pacific are actively focusing on better and improved connectivity and teledensity to achieve digitization. The rise in the adoption of smart devices such as tablets and smartphones acts as a strong platform for the usage of stylus pens.
The growth of the global stylus pen for the education market is majorly driven by the upsurge in internet penetration, coupled with the rise in the adoption of smart devices and the increase in the adoption of a bring-your-own-device (BYOD) policy. Several educational institutions have adopted a BYOD policy, as it helps to minimize equipment purchasing and management costs and supports the changing needs of education.
Handheld devices and smartphones provide enhanced flexibility, productivity, and accuracy in terms of tasks performed and work managed by students. Connected & smart devices such as smartphones, tablets, and laptops support different operating systems, such as Windows, iOS, and Android, which enable synchronized operations with the stylus pen. However, the lack of technology readiness for digital education across underdeveloped nations is expected to restrict the stylus pen for the education market growth.
The emergence of COVID-19 has significantly affected the education sector. The enforcement of lockdown due to the outbreak of COVID-19 has paved the way for online education. Online education has increased the sale of laptops, smartphones, and tablets, wherein laptops are witnessing increased demand. Hence, there is a growing demand for stylus pens in the education stylus pen for education market post-COVID-19 pandemic.
Region-wise, the stylus pen for education market trends has been analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for a major share of the global stylus pen for education market in 2019 and is expected to dominate the stylus pen for education market in terms of revenue during the forecast period, owing rise in demand for digital data storage platforms, an increase in smart device penetration, and changes in business processes and operations. The Europe region holds the second-largest share in the global stylus pen for the education market and is expected to witness significant growth during the forecast period, owing to advancements in the education sector.
Key Findings Of The Study
- – In 2019, the active stylus segment accounted for the maximum revenue and is projected to grow at a notable CAGR of 8.7% during the forecast period.
- – In 2019, Windows, a platform-type segment, contributed more than half of the total stylus pen for education market share.
- – By application, the laptop segment contributed a major share of 53.0% in the global stylus pen for the education market in 2019.
- – The U.S. was the major shareholder in the North American stylus pen for the education market, accounting for more than a 25% share in 2019.
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The Stylus Pen for Education Market key players:
Apple Inc., Acer Inc., Adonit, DNS Overseas, HP Development Company, L.P., Logitech International S.A., Microsoft Corporation, Wacom, Xcallibre SONICTECH Inc., and Staedtler Mars GmbH & Co. KG. stylus pen for education market players have adopted various strategies such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the stylus pen for the education industry.
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